Views of the world from a tiny island

Seychelles Economy in the News

Big thanks to a reader for the heads up on this article on the state of the economy in Seychelles.

… Seychelles now has the unenviable stature of being perhaps the most indebted country in the world. Public and private debt totals $800 million – roughly the size of the country’s entire economy.

In every country in the world … to a greater or lesser degree, of course … excessive spending, poor management and political ass-covering drop a bottom line below the bootstrap level that would allow pulling up in times of global economic meltdown.

Not all that long ago, I would have suggested that a move toward countries being run more like businesses would have been a step in a responsible direction, but now it’s pretty clear that the sort of mismanagement government machines are noted for is writ big in the corporate world after all.